Toshiba claimed that it has invented an algorithm that performs faster than today’s most advanced supercomputers in the market. The technology makes rapid analysis and calculations that can be valuable to organizations whose business entirely relies on microseconds.
Toshiba’s technology, called “Simulated Bifurcation Algorithm” is developed to exploit the concepts supporting quantum computing systems, though its design doesn’t need machines that should be kept near zero temperature and have restricted functions with highly expensive rate tags.
Toshiba, a Japanese multinational conglomerate, says the technology can also be performed in many sectors alongside finance and runs on computers that are made of off-the-shelf components.
A senior research scientist at Toshiba said that it can be plugged into a server and run at room temperature. The company, which has proved its mastery in the consumer electronics and nuclear reactors market, spent substantial time researching advanced algorithm technology.
The company is seeking partners to embrace technology and utilize it on a practical basis. Several financial companies are struggling to take advantage of machine-dominated markets that have also considered this technology. Presently, banks, assets, and brokerage managers have been working on quantum computing systems, though such feasible applications are deemed time-consuming with no extraordinary results.
According to the company, the algorithm holds the potential to calculate arbitrage opportunities for currencies in microseconds. It has also recruited a special finance professional team to experiment with the project, including its practical use, which seems to be complete by 2021.
The algorithm could be used in many other fields by Toshiba; other sectors might include plotting complex shipping, developing drugs with molecular precision, and for logistics routes, Toshiba Chief Executive Officer Nobuaki Kurumatani said in an interview.